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REWARD WITHIN THE HR COMMUNITY
Jamie MackenzieMarketing Director
AGENDA
1. Incentive and recognition today
2. Reward for now, tomorrow and the future
3. Sodexo rewards in practice
4. Summary
2 – Reward within the HR Community - Jamie Mackenzie
Defining Reward
“A reward programme that is easily communicated across the business; managers use it daily to motivate and engage their staff with flexible / engaging communications tools; and it can be easily linked to key HR goals and objectives”
Incentive and recognition are components of reward:
76%Of those practising reward says this
describes their ideal programme
Incentives RecognitionDesigned to encourage people to achieve pre-defined objectives or targets
Designed to reinforce behaviours on the job. In some cases it is not pre-defined, like on the spot awards
■ 45% Practitioners
HR professionals with programmes already in place
■ 14% Planners
HR professionals intending to introduce a programme
■ 41% Non-practitioners
HR professionals without a programme and no plans to introduce one
4 –
55% of HR professionals have no reward programme in place
I&R in practice
Reward within the HR Community - Jamie Mackenzie
Common challenges
5 –
No impact without communication■ Main challenge for ‘Practitioners’ is communicating the programme
■ Larger companies often have a widespread employee demographic, affecting communication channels
■ Wide range of tools needed to communicate to whole workforce – both online and technology-based media
■ Visibility across multiple sites
63% insufficient senior management time de-
voted to incentives
63% measuring the impact of rewards on staff behaviour and
morale
56% lack of clarity concerning objec-tives for staff in-
centives
Reward within the HR Community - Jamie Mackenzie
Having the right tools in place to effectively manage and communicate I&R is key. Without these, it is difficult to determine whether the programme is achieving the company’s objectives.
6 –
44% of ‘non-practitioners’ think the
portfolio of reward tools used are too basic or narrow
Leveraging tools to deliver effective I&R
■ Information systems‘Dashboards’, online reporting tools and automated tracking of performance and rewards take up
■ Communication toolkitsOnline catalogues, apps, newsletters, briefings, product updates & social media tools
■ Proving ROIDemonstrating value to senior management; activity reports, ROI calculators, benchmarking tools, engagement surveys
Reward within the HR Community - Jamie Mackenzie
Why implement an I&R programme?
7 –
Achieve core business KPIs■ It’s proven that annual company objectives such as
corporate revenues and KPIs are higher in organisations who actively reward their staff.
1.
3.
2.
6.6%Higher annual revenue achieved by companies who provide non-cash incentive & recognition
4. Engage employees■ 86% of employees said that recognition for good work
was one of the most important aspects of working life.
■ 90% of employees said recognition programmes motivate them to do their job.
Promote your company values■ Individuals who are rewarded feel proud and more likely
to spread the word to family and friends, promoting your business outside of its direct circle.
Be memorable■ Recipient is likely to think about your business whenever
they think about or use their reward.
Reward within the HR Community - Jamie Mackenzie
VIDEO
8 – Reward within the HR Community - Jamie Mackenzie
Redefining reward for now, tomorrow and the future
REWARD FOR NOW
Rewarding on ad-hoc basis
Gift card and vouchers
REWARD FOR TOMORROW
Rewarding as part of a strategic reward programme
Online reward platform
REWARD FOR THE FUTURE
Rewarding long term individual objectives and performance
Financial planning tool
SODEXO GLOBALLY
10 –
Europe’s largest I&R provider
Global programme roll-out capability
Active across all industries
Reward within the HR Community - Jamie Mackenzie
Conclusion
11 –
55% of companies do not practice I&R
63% find communication to be the biggest challenge
6.6% higher revenues achieved in companies who practice I&R
Define your strategy …
Reward within the HR Community - Jamie Mackenzie
86% …
of employees say recognition for good work is critical in their working life
REWARD FOR THE FUTURE
REWARD FOR NOW
REWARD FOR TOMORROW
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